I'm not sure if this tool is really new, but it is new to me.
For the first time, a single hole spring-loaded hand punch has emerged
that is somewhat unique.  Its cutting tip rotates to cut the paper in
a very clean shearing action.

I found it in the most current Lee Valley Tools catalog.  Priced at
$22.50 (US $$), it comes with 5 tips ranging from 1.5 mm to 4 mm.
See  http://www.leevalley.com/wood/page.aspx?c=1&p=51577&cat=1,43456 
or  http://www.leevalley.com/ 

Search on "Spiral Punch Set"

I have found it excellent to make modest repairs to piano rolls where
it is necessary to insert new paper under old damaged roll paper.
Simply cut through the original holes.  Also handy to cut through
transparent repair tape that had been used 'leventy-seven years ago
to make repairs.  Enjoy!

Regards,
Terry Smythe
Winnipeg, MB, Canada
http://members.shaw.ca/smythe/rebirth.htm